In a previous blog on car expenses, we touched on buying a car in your company and possible FBT (Fringe Benefit Tax) implications of providing cars to your employees. Let’s jump in and explain it in more detail.
Yes, a car is considered an asset to your business (even if...
Them: Just buy a car before the end of financial year, you can write it off for business!
You: Hmm, that seems too good to be true. What about depreciation?
Them: Nah, use the ‘small business write off’ thing.
You: I’m going to ask my accountant.
Me (your accountant): YAY!! A+ to...